Maryland Automobile Insurance Fund Producer Bond

Why do I need this bond?

The Maryland Automobile Insurance Fund (MAIF) was founded by the Maryland State Legislature in 1972 and provides automobile liability insurance for Maryland residents who are unable to otherwise obtain any.

An insurance producer’s bond is an important step in the licensing process to become a MAIF producer. This bond allows the state or customers to file a claim against the principal (producer) in the case of financial loss due to the producer’s negligence or faulty business practices.

What’s the fine print?

Anyone who wants to be a licensed insurance producer for the MAIF is required to obtain a Maryland auto insurance provider bond. These bonds are continuous until canceled, and the surety must give the state 30 days’ notice prior to cancellation.

How to become an automobile insurance fund producer in Maryland

In order for the Automobile Insurance Fund to consider an application, the following materials must be furnished by the applicant:

• Agency name and legal trade name, if applicable
• Addresses of all offices and branches
• Tax identification number
• Principal contact information including name, date of birth, address, social security number, and title
• Companies represented
• Surety bond
• Certificate of good standing

Ready to get started?

Additional Resources

Maryland Automobile Insurance Fund Homepage

Maryland Automobile Insurance Fund Requirements for Producer’s Code

Annotated Code of Maryland Section 20-511 of Insurance Article